The Traderszone Network

Published in TZ Latest News 20 October, 2015 by The TZ Newswire Staff

Ferrari faithful rev IPO price to top of range

Ferrari, controlled by Fiat Chrysler Automobiles NV (FCA) (FCHA.MI), pulled out all the stops to market itself to some of its cars’ owners as well as Wall Street, and also limited the offering to a 9.1 percent stake in the company. The strategy paid off, as the IPO was priced in New York on Tuesday at $52 per share, the top end of its indicated $48 to $52 per share range, according to people familiar with the matter. The IPO gives Ferrari a market capitalization of around $9.8 billion.